Forums: Discussions for entrepreneurs and small business.

I too am in the process of gathering information on starting a music instrument shop.  I am in NorthernAZ and there is not another store within 15 miles.  I live in a tourist area and want to tap into that market.  I am thinking of mostly acoustical instruments; Native American flutes and drums and some recording equipment so that people can create their own meditation CDs or mp3s.  I am also thinking about using rooms in the store for lessons in music and spirituality (there are plenty of experts in the area) and jam sessions. 

I would also like selling `higher end` guitars.  My thinking is that not a lot of tourists will be buying guitars...too much to carry back home.  So why not sell the best, since most of the guitar shops in the area sell lower end or mid range Fender, maybe a martin or two and a few other brands but no one really sells higher end acoustic guitars.  So they guitar enthusiast would come here for the better guitars and the few tourists that are into guitars may buy one.

I have taken courses at the college on business planning and have started a business plan.  I am having difficulty getting information on costs for guitars...what the cost are, what the profit margins are...how much inventory do I have to have?  Does the inventory change depending on the brand? Do I need to purchase the guitars or can it be on consignment?  I have contacted Fender, Martin, Gibson even Ovation and either they do not respond or tell me I need a sales tax number and a store front.  Well that to me is a bit down the road.  I am still trying to find out if this is feasible.  Is there someplace I can get this information?